Cash most certainly not king, as savers missed out on £10.6bn this year by not opting to invest in equities instead December 22, 2015 UK savers' devotion to cash caused them to miss out on £10.6bn this year, according to a study released today by investment trust manager Henderson Global Investors. At the end of October 2015, the country's savers had squirrelled away £746bn in cash, £376bn of which being held in instant access accounts, which carry an average interest rate [...]
SpaceX won’t be using its reusable rocket again – here’s why December 22, 2015 Early this morning, SpaceX managed to re-land a rocket for the first time ever, paving the way for a new generation of reusable rockets. The Falcon 9 rocket was launched from Cape Carnaveral in Florida, and after shooting up into the sky to deliver a series of commercial satellites to the International Space Station, it [...]
US GDP growth revised down to two per cent December 22, 2015 The US economy grew at slightly slower rate than previously estimated between July and September, according to figures released today. The economy expanded at an annual pace of two per cent, according to the Bureau of Economic Analysis' (BEA) third estimate of GDP, down from 2.1 per cent in the second estimate. The BEA said the [...]
US crude and Brent crude oil prices tick up after sliding to multi-year lows December 22, 2015 Oil prices edged off multi-year lows this afternoon as investors closed bets prices would fall ahead of the holidays. The US benchmark West Texas Intermediate gained 0.36 per cent at $35.93 per barrel this afternoon, while the global benchmark Brent crude slipped 0.1 per cent at $36.25 per barrel. "The sentiment has been very negative and ahead of the holidays [...]
Peer-to-peer lending hits £3bn as alternative finance shakes up traditional banks December 22, 2015 Peer-to-peer financing has soared over 50 per cent on last year, as alternative finance continues to shake up the lending world to really begin hitting the mainstream. The UK’s small businesses are growing particularly enamoured with the opportunities P2P lending presents, which makes sense when you consider that four in 10 businesses have their first [...]
Former UK Oil and Gas chairman David Lenigas leaves boards of all his Aim firms including AfriAg and Rare Earth Minerals December 22, 2015 David Lenigas, the Australian entrepreneur who famously claimed there may be "multiple billion barrels" of oil under Gatwick, has left the boards of all five of his Aim companies. "I am now off every board I was on on AIM. Don't intend to ever go back on another. Now I can buy shares any day [...]
Job hunting on the cards post-Christmas as just over a quarter of finance professionals already looking for a new job December 22, 2015 Those fancying a change of scenery office-wise in 2016 better get polishing off their CV fast, as just over a quarter (27 per cent) of financial services professionals have already started looking. According to figures shown exclusively to City PM today by recruitment consultancy Robert Walters, almost half (46 per cent) of those working in [...]
Moody’s downgrades Toshiba ratings as share price falls again December 22, 2015 Looks like Toshiba's attempt to "gain the trust of all stakeholders" has fallen flat. Not only did shares in the stricken Japanese conglomerate fall more than 12 per cent overnight – but Moody's has now downgraded ratings. In a statement today, Moody's said it was downgrading Toshiba's long-term senior unsecured bond ratings to Ba2 from Baa3, and its [...]
How to get more women in STEM: Celebrate female talent and role models to change young girls’ perceptions December 22, 2015 There has never been a better time to be a woman in STEM. Indeed, women now make up a record number of FTSE 100 board positions and they are increasingly represented in high profile STEM roles. The current presidents of both the Royal Academy of Engineering and the Institute of Engineering and Technology, for example, [...]
ITV share price falls as Comcast pours cold water on NBCUniversal takeover talks December 22, 2015 US cable company Comcast has poured cold water on speculation it's in talks for its entertainment arm NBCUniversal to takeover the UK's biggest broadcaster, ITV. ITV's share price closed nearly three per cent down on Monday, after a news report suggested the two companies had discussed a potential deal. It lost most of those gains, opening as [...]
